Scor’s chief executive officer of Global P&C Victor Peignet is to retire from the French reinsurance giant with Jean-Paul Conoscente taking up the role following his departure.
Axa XL has set out plans to cut 711 positions from its European workforce, 7.5 percent of its global headcount.
Mitsui Sumitomo Insurance (MSI), has penned a distribution deal with Russian non-life insurer Ingosstrakh Insurance Company.
Mapfre saw its earnings fall nearly 25 percent in 2018 as catastrophe losses, currency depreciation and a massive prior year goodwill writedown negatively impacted results but the Spanish (re)insurer received praise from analysts for its underlying performance.
Former Axa Global Parametrics CEO Tanguy Touffut has launched a new MGA called Descartes Underwriting with funding from BlackFin Tech.
Travelers Europe has been granted a licence by the Central Bank of Ireland for a new, wholly owned insurance subsidiary incorporated in the Republic of Ireland.
Scor’s share price slumped almost 12 percent today after potential acquirer Covea has confirmed it will no longer pursue a potential acquisition while prompting another bitter war of words between the two French firms.
The UK and Switzerland will allow each other’s insurers to operate as branch offices following a bi-lateral agreement signed between the two countries this week.
Covéa Insurance has partnered with iFarm Underwriting on cover for motor fleets targeting rural businesses.
Carriers are on the hook for $90bn for losses stemming from natural catastrophes in 2018, according to Aon.
Ambitious European legacy firm Darag has agreed to purchase a portfolio of Italian non-life business from Donau Versicherung AG (Donau).
Zurich’s importance as a European reinsurance hub has been recognised by the London-headquartered search firm Eliot Partnership with the launch of a new hub in Switzerland.
Germany has signed an agreement with China designed to boost the level of understanding and cooperation between the two countries on (re)insurance business and pledged to further open market access and deepen cooperation to broaden economic ties.
Axa XL has completed the transfer of its European insurance company, XL Insurance Company SE (XLICSE), from the UK to Dublin ahead of the UK’s exit from the EU in March 2019.
North P&I has secured its post-Brexit trading following confirmation that its Irish subsidiary, North of England P&I DAC, has received approval as a non-life insurer from the Central Bank of Ireland.
NASDAQ-listed Maiden Holdings has sold its European automotive group to Allianz Partners for an undisclosed sum.
Loss aggregation firm Perils has pegged insured losses stemming from for Extratropical Cyclone Friederike - also known as David – at Eur1.67bn ($1.91bn).
Carriers are on the hook for a $71.5bn 2018 nat cat bill, Willis Re has said.
Despite 2018 being one of the worst-ever years for global insured cat losses, ample capacity and stiff competition among reinsurers saw European cat programs renew an average of 2.6 percent down at the 1 January renewals, according to Guy Carpenter.